45,800 Shares in Monster Beverage Corp (MNST) Acquired by Kepos Capital LP

Kepos Capital LP purchased a new position in shares of Monster Beverage Corp (NASDAQ:MNST) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 45,800 shares of the company’s stock, valued at approximately $2,669,000.

A number of other hedge funds also recently modified their holdings of the stock. BlackRock Inc. increased its position in shares of Monster Beverage by 1.2% in the third quarter. BlackRock Inc. now owns 24,111,145 shares of the company’s stock worth $1,405,199,000 after acquiring an additional 279,364 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Monster Beverage by 47.2% in the third quarter. Alliancebernstein L.P. now owns 12,359,240 shares of the company’s stock worth $720,297,000 after acquiring an additional 3,961,104 shares in the last quarter. Voya Investment Management LLC increased its position in shares of Monster Beverage by 24.4% in the second quarter. Voya Investment Management LLC now owns 5,468,514 shares of the company’s stock worth $313,346,000 after acquiring an additional 1,071,066 shares in the last quarter. Northern Trust Corp increased its position in shares of Monster Beverage by 2.5% in the second quarter. Northern Trust Corp now owns 4,991,954 shares of the company’s stock worth $286,039,000 after acquiring an additional 121,766 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Monster Beverage by 10.6% in the second quarter. American Century Companies Inc. now owns 4,427,388 shares of the company’s stock worth $253,689,000 after acquiring an additional 423,841 shares in the last quarter. 64.23% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have recently issued reports on the stock. BidaskClub raised shares of Monster Beverage from a “hold” rating to a “buy” rating in a research report on Friday, August 17th. Zacks Investment Research lowered shares of Monster Beverage from a “buy” rating to a “hold” rating in a research report on Monday, October 15th. Jefferies Financial Group increased their price objective on shares of Monster Beverage from $70.00 to $71.00 and gave the stock a “buy” rating in a research report on Thursday, August 9th. Citigroup increased their price objective on shares of Monster Beverage from $62.00 to $71.00 and gave the stock a “buy” rating in a research report on Friday, August 10th. Finally, Guggenheim assumed coverage on shares of Monster Beverage in a research report on Thursday, September 13th. They issued a “buy” rating and a $72.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $63.38.

Shares of MNST stock opened at $59.68 on Monday. The firm has a market capitalization of $33.00 billion, a PE ratio of 40.88, a PEG ratio of 2.11 and a beta of 1.38. Monster Beverage Corp has a twelve month low of $47.61 and a twelve month high of $70.21.

Monster Beverage (NASDAQ:MNST) last announced its earnings results on Wednesday, November 7th. The company reported $0.50 earnings per share for the quarter, beating the consensus estimate of $0.46 by $0.04. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $988.73 million. Monster Beverage had a net margin of 25.86% and a return on equity of 25.47%. The business’s quarterly revenue was up 11.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, analysts anticipate that Monster Beverage Corp will post 1.77 EPS for the current fiscal year.

Monster Beverage declared that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 8th that permits the company to repurchase $500.00 million in shares. This repurchase authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

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Monster Beverage Company Profile

Monster Beverage Corporation, through its subsidiaries, develops, markets, sells, and distributes energy drink beverages, soda, and its concentrates in the United States and internationally. It operates through three segments: Monster Energy Drinks, Strategic Brands, and Other. The company offers ready-to-drink packaged drinks, non-carbonated dairy based coffee and energy drinks, and non-carbonated energy shakes primarily to bottlers and full service beverage distributors, as well as sells directly to retail grocery and specialty chains, wholesalers, club stores, drug stores, mass merchandisers, convenience chains, food service customers, and the military; and concentrates and/or beverage bases to authorized bottling and canning operations; and ready-to-drink packaged energy drinks to bottlers and full service beverage distributors.

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Institutional Ownership by Quarter for Monster Beverage (NASDAQ:MNST)

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